Donald Jackson Sells 730 Shares of Cummins (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Donald Jackson sold 730 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the sale, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cummins Price Performance

Shares of NYSE:CMI opened at $698.36 on Friday. The business’s fifty day moving average price is $601.51 and its two-hundred day moving average price is $554.63. The stock has a market cap of $96.37 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.Cummins’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.96 EPS. On average, analysts forecast that Cummins Inc. will post 28.39 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 22nd. Cummins’s dividend payout ratio is 41.52%.

Institutional Trading of Cummins

Several large investors have recently added to or reduced their stakes in CMI. Brighton Jones LLC increased its holdings in Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Intech Investment Management LLC increased its holdings in Cummins by 40.8% in the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after purchasing an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Cummins by 2.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC acquired a new stake in Cummins in the 2nd quarter valued at $225,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Cummins in the 2nd quarter valued at $31,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMI. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $845.00 price target on shares of Cummins in a research note on Monday. Raymond James Financial increased their price target on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins currently has an average rating of “Moderate Buy” and an average target price of $677.87.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.